Portable electronic devices may be used to engage in a plurality of commercial activities including the making of purchases at retail establishments. Portable electronic devices, including mobile telephones, may complete contactless transactions at point of sale terminals at many kinds of vendors of goods and services. Portable electronic devices store account data for payment methods, such as credit cards, debit cards, gift cards, access cards, and cards for various prepaid services or goods. The account information may be stored on a secure element in the portable electronic device. The information may be managed and transmitted by an electronic wallet software application that is stored and executes on the portable electronic device. Portable electronic devices also may receive commercial promotions and coupons associated with goods and services that may be purchased using the electronic wallet application and other electronic payment methods. Profiles containing information about the user may be stored on the portable electronic device.